Malcolm Henry

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Good article from Tom Streithorst in which he argues that the problem we now have is a lack of consumption due to a lack of money. He suggests this is because our industry has become very good at producing stuff with very little labour, which means money isn’t being distributed widely enough to allow people to buy the stuff that is being produced. In the short term his solution is to reverse the austerity nonsense and get government to invest in infrastructure. For the future he says we have to break the link in our minds between work and consumption so that we can empower consumers to consume, and suggests a basic income as one way to help this happen, which chimes with the proposals in my book.